The participating central banks will evaluate the project’s feasibility for cross-border fund transfers and capital market transactions, among others.
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Kuwaiti banks’ non-performing loans increase to 2% amid COVID-19 crisis – central bank
The non-performing loan ratio has seen only slight increases, and is still at historically low levels,” the central bank cited its governor Mohammad al-Hashel as saying …
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Beijing is exploring digital yuan cross-border payments by joining with Hong Kong, Thailand, UAE and the Bank of International Settlements
The People’s Bank of China is joining the Multiple Central Bank Digital Currency Bridge, a project exploring cross-border payments using distributed ledger technology, the latest step in Beijing’s …
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Saudi bank profits face strain in 2021 despite economic recovery
Dubai: Saudi banks could find it tough to maintain profitability in 2021 as the Saudi Central Bank lifts its support measures and interest rates expected remain low, according to Standard & Poor’s …
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Onward And Upward: StarzPlay Secures US$25 Million Investment From Ruya Partners To Support Its Growth Ambitions
Investors found that being homegrown is one of StarzPlay’s main advantages over the stiff competition in the region’s SVOD space.
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Central Banks Of China, UAE Join CBDC Cross-Border Initiative
The People’s Bank of China and the Central Bank of the United Arab Emirates … Business use cases will also be explored. Now that the UAE and China have joined the project, the project will “further …
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Middle East Open Banking outfit Tarabut Gateway raises $13m
Middle Eastern Open Banking platform Tarabut Gateway has raised $13 million in what it claims is the largest fintech seed round in Mena history.
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China and UAE central banks explore CBDC for cross-border payments
The central banks of China and the United Arab Emirates are joining their counterparts in Thailand and Hong Kong on a CBDC project investigating cross-border foreign currency payments.
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Ministry of Finance Holds Government Financial Policy Coordination Council’s First Meeting for 2021
The Ministry of Finance (MoF) recently held the Government Financial Policy Coordination Council’s first meeting of the year. His Excellency Younis Haji …
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Dubai shows leniency; allows passengers without QR code
MANGALURU: There’s a temporary reprieve for people flying to Dubai as the Dubai Health Authority (DHA) has been lenient in accepting only RT-PCR negative reports in original form, done 72 hours before …
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Open banking platform Tarabut secures $13mln in region’s largest seed round
Open banking platform Tarabut Gateway has secured $13 million in what is said to be the largest FinTech seed round in the Middle East and North Africa (MENA) region. The fresh capital will be used in …
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Hong Kong Monetary Authority, Central Bank of UAE strengthen fintech collaboration
The Hong Kong Monetary Authority (HKMA) and the Central Bank of the United Arab Emirates (CBUAE) jointly announced the exchange of a Memorandum of Understanding (MoU) Tuesday, with a view to …
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A Star Trader Turns Star Witness in $12 Billion Tax Scandal
The Al Fattan Currency House complex in Dubai, where A. worked … He left in 2000 and helped to found Duet soon after as an operator of hedge funds and private-equity funds. Read More: Why ‘Cum-Ex’ …
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The 10th annual Middle East Banking Innovation Summit returns next week
Middle East Banking Innovation Summit next week will showcase the latest advancements in fintech with a particular focus on the UAE. Returning for its 10th edition on March 1 and 2, 2021 at the Le …
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Dubai: Two fake cops abduct expat in Karama face trial
Two Asian men have stood trial at the Dubai Criminal Court after they reportedly posed as cops and abducted a man. They are also facing charges of theft and possession of counterfeit currencies. The 2 …
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£14.5m to my exes… but I’m still feeling flush! He’s Britain’s richest plumbing boss, with an OBE to boot. Now, in a riotous encounter, Charlie Mullins tells JAN MOIR why he …
After moving house, getting divorced for the second time and catching Covid last year, Charlie Mullins is riding out the pandemic in Dubai.
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HSBC to announce exit from U.S. retail banking, reshuffles top jobs
HSBC is set to withdraw from U.S. retail banking, a source familiar with the matter told Reuters on Monday, as Europe’s biggest bank seeks to dispose of a business that has long underperformed. The …
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